Okay, I'm going to stop you right there. Thank you. If we're listening to your opinion and not the Bank of Nova Scotia's, I'm going straight to Mr. Page.
It's the same thing with Mr. Poschmann. I'm not here to listen to people's personal opinions; I'm here to listen to an institution. If you're not here representing your institution, thank you for your time.
Mr. Page, you have already said that the situation we are facing right now is a result of choices made. In previous reports, you said that the government was making choices that would lead to that outcome. You spoke for instance of corporate tax reductions which by definition only benefit the more profitable companies, since a forestry or manufacturing company that was struggling and not turning a profit obviously would not be paying income tax and so could not benefit from a tax reduction.
I would like to hear your point of view on the program expenditures mentioned here in the presentations of some of your colleagues who say that they expect program expenditures to be set at a certain level. Will the government's choice to maintain or not maintain program expenditures have a determining effect on the economy? If so, how do you assess the risks involved?
As far as we are concerned, we think it very likely that the Conservatives, faced with a deficit they have themselves created, will say that the solution is to cut program expenditures radically.
And so, I would like to hear your analysis of the possible results of such a choice, and I would like you to tell us if you think that is a priority for them, since it is our turn to make a forecast.